Baghdad is signaling a potential departure from OPEC if its oil production quota isn't substantially raised, a move that would further destabilize the cartel. While Iraq's current strategy is to remain a member and push for a higher share, the possibility of an exit looms. This comes as Iraq grapples with a severe financial crisis, making an increased quota a critical necessity.

Iraq's oil exports collapsed over 97% due to the Iran conflict, dropping from 3.32M bpd to 96K bpd. OPEC+ approved a modest quota increase as Iraq scrambles

Iraq will be compelled to consider all options if its quota in the Organization of the Petroleum Exporting Countries (OPEC) is not significantly...

Opec’s second-largest producer has repeatedly pushed for a higher quota

The reported threats came shortly after the UAE left the organization last month, saying that it wanted to boost its oil output.